Xylem Rises Most Since ITT Spinoff on Profit Forecast
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Xylem Inc., the water company whose pumps helped clean tunnels in New York flooded by Hurricane Sandy, surged the most since being spun off from ITT Corp. two years ago after raising annual earnings and sales forecasts.
Xylem jumped 12 percent to $32.53 at the close in New York, the biggest gain and highest price since October 2011, when ITT split under the leadership of Steve Loranger, now Xylem’s interim chief executive officer.